Santelli previously stood on an X in the CME and looked up at a camera when he did his on-air hits for CNBC.

Truthfully, it was a rather awkward shot.

The area where he currently stands looks like "The Pit"-- a raised platform at the exchange where open-outcry trading takes place -- but keep in mind it's not the actual pit.

One popular theory for why he stands there instead of the real pit is because some traders might be worried that people watching television would figure out information they shouldn't because of the angle of the shot.

That's because traders at the the CME use something called open-outcry, which is a form of communication where traders use hand signals to exchange information about buy and sell orders.

It seems plausible.

Open-cry is also really interesting. We've put together these nine different hand signals traders use [via northmanfamily].